Comments on: Helping Others Escape Financial Ruin

By: wpoinsot

wpoinsot — Wed, 06 Mar 2013 19:19:52 +0000

My father-in-law was in a similar though situation. And a lot more was going on than the family knew about. He may have been conned by someone he ran into in the street. He was asking old acquaintances for loans. All of this were symptoms of undiagnosed dementia that were beyond his control. The anxiety, confusion and humiliation he was suffering was unknown to the family for nearly a year. In most other respects the dementia was not readily evident. In this case, having his close family confront him may not get at satisfactory answers as the patient isn’t aware of the problem.
Please see the following NYT report:
http://www.nytimes.com/2010/10/31/health/healthspecial/31finances.html?pagewanted=all

By: Emily

Emily — Wed, 06 Mar 2013 14:29:47 +0000

Dear Joseph, thanks so much for this article. Several years ago I had a similar situation with my aunt and I encouraged her only daughter – my cousin – to get involved with her mother’s finances. I always felt guilty that perhaps I’d ducked my responsibility. The result was uncomfortable for my aunt and cousin but it was the right decision, and your article reinforces that conclusion.
Emily

By: Concerned

Concerned — Wed, 06 Mar 2013 14:28:38 +0000

I agree to this stance to a point but also believe you know your parents better than anyone else and know how to face this situation head on. If your mother has not or cannot confront your father about their finances an intervention may be in order. Bring siblings and everyone speak with your father through love and concern. The above information would work more effectively for younger couples and their financial needs but aging parents are a different situation altogehter. Consider the advise above but also consider your own resolve as they may need to know you love them enough to be there for them. I don’t necessarily mean you should bail them out but financially but stand by them.